Globalization and equity returns in African frontier markets

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dc.contributor.authorNg’ang’a, Josephine Wairimu
dc.date.accessioned2017-08-31T07:03:29Z
dc.date.available2017-08-31T07:03:29Z
dc.date.issued2017
dc.descriptionA Research project submitted in partial fulfillment of the requirements for the degree of Bachelor of Business Science in Actuarial Science at Strathmore Universityen_US
dc.description.abstractGlobalization has significant implications for risk sharing and diversification, cost of capital, market efficiency, financial decisions and macro-economic policy. This study investigates globalization which is measured in three different ways in 8 African frontier markets, from 1997 to 2013. The investigation is conducted using a Panel regression model and it explores whether integration affects equity returns. The factors used in this study are orthogonal to each other and the important fundamentals are inflation and money supply. The researcher finds evidence that the extent of African market globalization has a significant impact to their equity markets. The findings support partially integrated African market. The evidence is generally sensitive to the period of investigation suggesting changing integration through time.en_US
dc.identifier.urihttp://hdl.handle.net/11071/5321
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectGlobalization and Integrationen_US
dc.subjectGlobalization and Equity Returnsen_US
dc.subjectGlobalization and Developing countriesen_US
dc.subjectHausman Testen_US
dc.subjectHadri LM testen_US
dc.subjectLevin-Lin-Chu unit-root testen_US
dc.titleGlobalization and equity returns in African frontier marketsen_US
dc.typeProjecten_US
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